In a brief statement the company said only that the pair hadmutually agreed to tear up the contract because of the yard’s difficulties.
STX Pan Ocean as it was called then ordered the 31,000-dwt vesselin May 2012 at a cost of $80m as it sought to strengthen its toehold in theheavylift market.
The owner has two similar vessels on its books including one24,000-dwt unit delivered by STX Dalian in 2012.
This is the latest in a series of setbacks for the troubled shipyardwhich has seen orders for multiple vessels cancelled over the past 12 months.
According to Clarksons Pan Ocean is left with just 14 newbuildingson order including a pair of capesizes at Hanjin Heavy Industries.
The remaining 12 are all under construction at STX Dalianand comprise 10 open hatch cargoships, an 83,000-dwt kamsarmax and one valemaxbulker.
Pan Ocean logged a $1bn order for 20 of the 57,000-dwtopenhatch ships plus six kamsarmaxes in 2010.
To date the company has taken delivery of five of each typeof vessel.
